But today globalization faces strong political headwinds. The very term triggers protest from the political left — it has come to be blamed for the prosperity of the top 1 percent, stagnant wages for everyone else and the excesses of Wall Street.
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Intellectual property (IP) — that covered by patents, trademarks, copyrights and harder-to-protect trade secrets — is now worth as much as 75 percent of the total value of major companies. But while the importance of these assets has grown, many businesses lag in their efforts to protect IP.